QuinStreet (NASDAQ:QNST) Shares Gap Up – Here’s Why

QuinStreet, Inc. (NASDAQ:QNST) gapped up prior to trading on Monday . The stock had previously closed at $21.59, but opened at $22.77. QuinStreet shares last traded at $23.04, with a volume of 239,453 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on QNST shares. StockNews.com cut shares of QuinStreet from a “hold” rating to a “sell” rating in a research report on Tuesday, January 14th. Craig Hallum lifted their target price on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barrington Research restated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research note on Friday, December 6th. Lake Street Capital lifted their price objective on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, B. Riley increased their target price on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $29.00.

QuinStreet Price Performance

The company’s 50 day simple moving average is $22.42 and its 200 day simple moving average is $20.25.

QuinStreet (NASDAQ:QNST) last released its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. QuinStreet’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.19) EPS. Sell-side analysts forecast that QuinStreet, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In other news, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the transaction, the director now directly owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stuart Huizinga sold 2,980 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the transaction, the director now owns 171,923 shares in the company, valued at approximately $3,954,229. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,000 shares of company stock worth $910,374. Company insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On QuinStreet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QNST. State of Alaska Department of Revenue grew its position in shares of QuinStreet by 1.4% in the 4th quarter. State of Alaska Department of Revenue now owns 31,976 shares of the technology company’s stock valued at $737,000 after buying an additional 432 shares during the last quarter. KBC Group NV boosted its stake in QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after acquiring an additional 1,396 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of QuinStreet by 1.8% during the fourth quarter. SG Americas Securities LLC now owns 26,060 shares of the technology company’s stock worth $601,000 after purchasing an additional 459 shares during the last quarter. Kings Path Partners LLC increased its position in shares of QuinStreet by 111.6% during the fourth quarter. Kings Path Partners LLC now owns 28,700 shares of the technology company’s stock worth $662,000 after purchasing an additional 15,138 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of QuinStreet by 39.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock valued at $8,601,000 after purchasing an additional 127,689 shares during the last quarter. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Company Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.